Hong Kong's first officially approved HKD-backed stablecoin, HKDAP, has successfully completed a live transfer test on the Ethereum mainnet involving three licensed firms: Anchorpoint Financial, OSL Group, and PantherTrade. This test proves that HKDAP can be issued, transferred, and settled on a public blockchain without technical issues, marking a significant step beyond previous permissioned pilots in Asia. The project operates under the Hong Kong Monetary Authority's licensing, aiming for phased issuance by the end of Q2 2026. HKDAP is pegged 1:1 to the Hong Kong dollar and is designed to offer a compliant, regulated alternative to offshore dollar-pegged stablecoins, while leveraging Ethereum's DeFi ecosystem for interoperability.
U.S. spot Ether (ETH) exchange-traded funds experienced significant net outflows of $110.6 million on October 22, following a brief inflow of $14.9 million on October 21 that failed to offset losses from the previous five sessions. From October 14 to...
Ethereum's development team has postponed the Glamsterdam upgrade on the Hoodi test network because of security concerns related to changes in gas rules that might affect existing smart contracts. This delay raises questions about the network's stabi...
An Ethereum wallet that had been inactive for 9.5 years transferred 3,000 ETH to the Kraken exchange on October 22. When these tokens were withdrawn from Gemini in 2017, they were valued at $19 each, totaling about $56,000. The current value of the t...
Bitcoin dropped to around $81,000 amid a tech sector sell-off that pressured risk assets, including cryptocurrencies. Despite this, institutional demand remains strong, with US spot Bitcoin ETFs seeing $528 million in inflows over three days, led by ...
On October 22, Binance's Ethereum perpetual futures market recorded a single liquidation of a long position valued at $2.4 million. The liquidation occurred when the ETH price hit $2,400. This event highlights the risks involved in leveraged trading ...
